European Factors to Watch-Stocks to fall; Burberry in focus

Redacción de Reuters

7 MIN. DE LECTURA

EDINBURGH, May 21 (Reuters) - European stocks were set to fall on Wednesday,
tracking losses in the United States and in Asia to lead major indexes further
away from multi-year highs.
At 0612 GMT, futures for the Euro STOXX 50, Britain's FTSE 100
, Germany's DAX and France's CAC were 0.1-0.3 percent
lower.
Wall Street set the tone for a weak session in Asia and Europe after
disappointing results for heavy machinery firm Caterpillar and in the
retail sector prompted a broad sell-off in U.S. stocks.
"Europe should open on the back foot this morning, with futures markets
finding little inspiration from the modest moves in Asia," Chris Weston, chief
market strategist at IG, said in a note.
The retail sector will also be in focus in Europe after luxury firm Burberry
met forecasts with an 8 percent rise in annual profit, though it
reiterated the risk of a material impact on profit if foreign exchange rates
remain at current levels.
Across the STOXX Europe 600, earnings season so far has been
mediocre, with 51 percent of companies missing earnings estimates and nearly 60
percent missing analyst expectations for revenue, StarMine data showed.
The pan-European FTSEurofirst 300 is down 0.3 percent so far this
week, suffering from poor results from the likes of telecoms giant Vodafone
. It has fallen 1.2 percent since hitting its highest level since May
2008 last Thursday.
"In general terms the European remains rangebound and, although we are at
the upper end, we continue to see the equity market in good shape for a move
higher," Atif Latif, director of trading at Guardian Stockbrokers, said.
Europe bourses in 2014: (link.reuters.com/pad95v)
Asset performance in 2014: (link.reuters.com/rav46v)
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MARKET SNAPSHOT AT 0619 GMT:
LAST PCT CHG NET CHG
S&P 500 1,872.83 -0.65 % -12.25
NIKKEI 14042.17 -0.24 % -33.08
MSCI ASIA EX-JP 483.08 -0.08 % -0.4
EUR/USD 1.3706 0.03 % 0.0004
USD/JPY 101.18 -0.13 % -0.1300
10-YR US TSY YLD 2.512 -- 0.00
10-YR BUND YLD 1.346 -- -0.01
SPOT GOLD $1,294.10 0.02 % $0.30
US CRUDE $102.89 0.55 % 0.56
> GLOBAL MARKETS-Asia spooked by Wall Street loss, dollar dips
> US STOCKS-Retail stocks lead selloff on Wall St after earnings
> Nikkei falls as BOJ awaited; construction equipment makers hit
> TREASURIES-U.S. bond prices rise on Dudley comments
> FOREX-Wounded dollar eyes BOJ, Aussie slides to 2-week low
> PRECIOUS-Gold steady; platinum gains on supply worries
> METALS-Copper drifts as traders take profits on tepid demand
> Brent climbs towards $110 on Libya violence, U.S. stock draw
COMPANY NEWS
AUTOMOTIVE INDUSTRY
The German Association of the Automotive Industry (VDA) expects a surge in
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Matthias Wissmann told German daily "Stuttgarter Zeitung". Last year, about
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FIAT
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NOVO NORDISK
Novo Nordisk, the world's biggest insulin maker, said late on Tuesday the
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(Reporting by Alistair Smout; Editing by Francesco Canepa and Anupama Dwivedi)